More landlords will leave the private rented sector in the next year as annual rental price growth has been falling or flat since 2016, according to a study by DJ Alexander.
The property management firm has found that over the last year, the average private housing rental price has increased by 0.9% across the UK as a whole.
It also recorded regional variations, with the average private housing rental price increasing by 0.9% in England, by 0.7% in Wales, and by 0.6% in Scotland over the last year. What’s more, growth in the mesium-term is also poor.
Rental price growth in England has been below 2.0% since May 2017 and below 1.0% in the last four months, which is down two thirds on six years ago. In Scotland, rental price growth was last above 2.0% in June 2015 and has fallen steadily – even going into negative territory four times since then. Wales, on the other hand, has performed slightly better, although it has never had 2% annual rental price growth and recently dipped to 0.7%.